Coppernico Options 600ha at Sombrero for US$3.0M Work

Coppernico Metals has acquired an option on mineral concessions totaling 600 hectares adjacent to its Tipicancha target within the Sombrero Project in Peru. The Horizonte Concessions are positioned where Coppernico believes its expanding Tipicancha epithermal-porphyry system continues beyond the current Sombrero footprint.

Under the option agreement, Coppernico’s wholly owned subsidiary Sombrero Minerales S.A.C. receives immediate rights to conduct exploration and can purchase the concessions by completing US$3.0 million in staged work expenditures over five years and making total payments of US$2.0 million. If exercised, the concession owner retains a 1% net smelter return royalty, with Coppernico able to reduce it to 0.5% via a one-time US$1.0 million payment within 10 years.